The Federal Government of Pakistan has announced an increase in petrol and diesel prices, as reported by ARY News.
According to a notification issued late on December 31, the price of petrol has been increased by 56 paisas per litre, setting the new price at Rs252.66 per litre. Similarly, high-speed diesel prices have risen by Rs2.96 per litre, bringing the new rate to Rs258.34 per litre.
These adjustments are part of routine price revisions influenced by global market trends and domestic economic conditions.
Previous Changes in Fuel Prices
On December 15, the government announced a slight decrease in fuel prices. Petrol prices remained stable at Rs252.10 per litre, while high-speed diesel prices dropped by Rs3.05 per litre, setting the new rate at Rs255.38 per litre.
Additionally, kerosene oil prices were reduced by Rs3.32 per litre to Rs161.66 per litre, and light diesel oil prices decreased by Rs2.78 per litre to Rs148.95 per litre. The new rates were implemented at midnight as per the Ministry of Finance’s notification.
Rising Fuel Costs and Economic Constraints
The government’s inability to lower the petroleum levy has led to a significant increase in fuel prices over the past six weeks. Sources indicate that since October 16, high-speed diesel prices have risen by Rs12.14 per litre, while petrol prices have increased by Rs5.07 per litre.
Restrictions under the IMF program have prevented the government from reducing the levy to mitigate the price hikes, further impacting fuel costs in the country.
